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Death Spiral Convertible Bond

A convertible bond in which the conversion price is not predetermined but is kept floating. This bond converts into the...

Pure Play Security

The security of a company that has only one business line or product, and its value solely depends on the...

Pure Play Company

A company that has only one business line or product, and its value (or value of its stocks) solely depends...

Pure Play

The security of a company that has only one business line or product, and its value solely depends on the...

Pure Discount Instrument

A debt instrument that promises investors (holders/ buyers) a single fixed payment on a preset future date. In other words,...

Pure Play Beta

The value of beta that is inferred by examining the risk characteristics of similar companies (or the investments/ projects undertaken...

Pure Yield Pickup Swap

A bond swap that involves swapping a relatively high-price bond with a relatively low-price bond (otherwise, the two bonds are...

Documentary Letter of Credit

A common method of payment that is used in international transactions to facilitate trade by extending credit to banks’ clients....

Joint Bond

A bond that is payable to several creditors, unconnected in interest or by judgment. In other words, such a bond...

Junk Bond

A bond that is rated below investment grade (a rating of BB or lower) due to its bad credit quality....